Retail price impacts from the Iran war are uneven but add up for US households before midterms

More than seven months into the U.S. war with Iran, higher fuel costs are filtering unevenly into household expenses ahead of the Nov. midterm elections, with the sharpest impact felt by drivers and airline passengers. AAA data show regular gasoline averaged $2.98 a gallon and diesel $3.76 before the war; gas peaked at $4.56 in May and diesel hit a record $6.53 in September. On Friday, averages were $4.33 for gasoline and $6.33 for diesel. Moody’s Analytics chief economist Mark Zandi estimates the war has cost the average U.S. household the equivalent of nearly $2,000, including $1,100 in energy costs. Wholesale price jumps in September suggest further retail increases if fuel stays high.